As mortgage rates dropped toward levels last reported in May 2023, the MBA reported a rise in purchase application activity, led by both Conventional and FHA purchase apps.
Read More »Credit Availability Falls to Decade-Plus Low
“Credit availability declined in December to the lowest level since 2012, as ongoing industry consolidation is resulting in more loan programs being removed from the marketplace,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
Read More »Construction Industry Shows Resiliency in December Employment
The unemployment rate nationwide held at 3.7% in December, with the number of unemployed persons remaining at 6.3 million as residential building employment surpassed pre-pandemic levels.
Read More »Freddie Mac: Mortgage Rates to Continue ‘to Drift Downward’ in the New Year
Freddie Mac reports a slight one basis-point rise in the 30-year, fixed-rate mortgage to begin 2024, with rates moving sideways as the market digests incoming economic data for the new year. Here’s what they expect for the months ahead.
Read More »Mortgage App Volume Declines as Tumultuous Year Comes to a Close
Despite mortgage rates steadily falling over the last month of 2023, overall mortgage application volume slipped nearly 10% over a two-week span to close out the rollercoaster ride that was the housing market of 2023.
Read More »Waterstone Mortgage Names New Director of Affordable Housing
Bringing 25-plus years of experience to his new role, David Sparks will help in identifying and growing strategic relationships with affordable housing assistance providers to offer new programs for Waterstone Mortgage customers.
Read More »Monthly Mortgage Payments Moderate as Rates Decline
The latest data from the Mortgage Bankers Association found that the new median mortgage payment decreased slightly from October.
Read More »AI Advancements Leading the Charge
Brett Brumley of Lender Toolkit discusses the challenges that lie ahead in the industry, and how advancements in artificial intelligence and machine learning will smooth the road ahead.
Read More »Homebuyer Affordability Conditions Slipped Further in October
The MBA reports that the average national median mortgage payment rose to $2,199 in October, a $143 year-over-year rise. Here are the factors that were “dissuading would-be buyers from entering the housing market.”
Read More »Mortgage App Volume Rises to Six-Week High
Homebuyers nationwide are finding some relief entering the Thanksgiving holiday, as mortgage rates have fallen to levels last reported in late-September, garnering interest from buyers and driving up overall app volume to levels not seen in over a month.
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